WORLD HISTORY

Detailed explanation-1: -The Medici family were wool merchants and bankers. Both businesses were very profitable and the family became extremely wealthy. Giovanni de Medici first brought the family to prominence in Florence by starting the Medici bank .

Detailed explanation-2: -The Medici family, or the House of Medici, were a prestigious Italian banking family and political dynasty who held great power in Florence from the 15th to the 18th century. Originating in the Mugello region of Tuscany, the earliest records of the Medici’s date back to around 1046, with Medico di Potrone.

Detailed explanation-3: -They Were the Wealthiest Family in the 15th Century The Medici family started the most popular bank in Europe, the Medici bank, and they pioneered writing rules about loans. At one point, the Medicis managed the majority of the great fortunes in Europe, from merchants to members of royalty.

Detailed explanation-4: -Why is Lorenzo de’ Medici significant? Known as Lorenzo the Magnificent, the Florentine statesman and arts patron is considered the most brilliant of the Medici. He ruled Florence for some 20 years in the 15th century, during which time he brought stability to the region.

Detailed explanation-5: -The founder of the family fortunes was Giovanni di Bicci de Medici (1360-1429). Under his leadership, the family bank blossomed, and he soon became the richest man in Florence.

Detailed explanation-6: -The Medici family, also known as the House of Medici, first attained wealth and political power in Florence, Italy, in the 13th century through its success in commerce and banking.